Systems, methods, and apparatus for instant issuance of a transaction card

ABSTRACT

Systems, methods, and apparatus are provided for instant decisioning and remote dispensing of credit cards. In accordance with one implementation the system for instantly issuing a credit card includes means for receiving a credit card application from an applicant, means for instantly decisioning the credit card application, if declined, means for instantly notifying the applicant of that decision, and if approved, means for instantly issuing the credit card. The instant issuance credit card system can also receive a security deposit from the applicant where a determination is made that the applicant may need to remit a security deposit in order to secure the credit card. A decision to require security deposit may be based on the credit history of the applicant. A method for instantly issuing a credit card is also provided. Additionally, an apparatus for remotely dispensing a credit card is provided. The remote dispensing apparatus includes: an input device; a security deposit acceptor; a remote dispensing module, wherein the remote dispensing module communicates with a central real-time decisioning platform; a credit card dispenser; and a display.

This is a continuation of application Ser. No. 11/098,403, filed Apr. 5,2005, now U.S. Pat. No. 7,131,583, which is a continuation ofapplication Ser. No. 09/694,791, filed Oct. 24, 2000, now U.S. Pat. No.6,877,656, both of which are incorporated herein by reference in theirentireties.

BACKGROUND OF THE INVENTION

I. Field of the Invention

The present invention relates generally to systems, methods, andapparatus for issuing credit cards. More particularly, the inventionrelates to systems, methods, and apparatus for instantly issuing creditcards using a remote dispenser.

II. Background and Related Information

Credit card products have become so universally well known andubiquitous that they have fundamentally changed the manner in whichfinancial transactions and dealings are viewed and conducted in societytoday. Credit card products are most commonly represented by plasticcard-like members that are offered and provided to customers throughcredit card issuers (such as banks and other financial institutions).With a credit card, an authorized customer or cardholder is capable ofpurchasing services and/or merchandise without an immediate, directexchange of cash. With each purchase, the cardholder incurs debt whichthe cardholder may thereafter pay upon receipt of a monthly or otherwiseperiodic statement. In most cases, the cardholder will have the optionto either fully pay the outstanding balance or, as a matter of necessityor choice, defer at least a portion or the balance for later paymentwith accompanying interest or finance charges for the period duringwhich payment of the outstanding debt is deferred.

The spending power of a credit card (i.e., the total amount of fundsavailable to the cardholder at any particular time for making purchases)is typically limited to a particular amount predetermined by the issuerof the card. This amount is commonly referred to as the “credit limit”of the credit card. The size of the issuer-imposed credit limit isgenerally based on a number of non-exclusive factors, the most importantof which are often the cardholder's earning capacity and thecardholder's credit history. When purchases are made or debts incurredwith the credit card, the available portion of the credit limit isreduced by the purchase or debt amounts. In addition, interest and/orfinance charges are also subtracted from the available portion of thecredit limit on a periodic basis. The total debits on a credit card arereferred to as the “outstanding balance”, while the remaining oravailable balance of the credit limit is typically called the “availablebalance” and reflects the dynamically adjusted current spending power ofthe credit card. The cardholder may increase the available balance up tothe credit limit, by paying to the issuer (or its representative) theentire outstanding balance or a fractional portion thereof.

Credit card offers are typically sent to potential customers via regularmail. The issuer of a credit card may offer potential customers aparticular credit card by disclosing the terms and conditions of thecredit card product (e.g., annual fees, interest rate(s) and financecharges, etc.) and the credit limit of the credit card that may reach astated maximum upon qualification. When a credit card application isreturned by a customer, the amount of the credit limit is generallydetermined by the issuer based on various factors, such as thecustomer's credit history and earning capacity.

This traditional strategy for issuing credit cards, however, does notwork effectively for a large segment of U.S. households that are eitherself-banked or un-banked. Self-banked households are those householdsthat rely on non-bank institutions, such as check cashing outlets(CCOs), pawnshops, payday loan outlets, and rent-to-own stores.Un-banked households are those households that lack any formalrelationship with a bank. Traditional approaches for offering creditcards to these households do not work for several reasons, for example,secured credit cards offered by mail have a very low response rate fromthis segment. At the same time, however, non-secured credit cards arenot a good option for this segment, because of the high percentage ofcharge offs in this segment.

In view of the inability to effectively serve the self-banked andun-banked households there is a need for systems, methods, and apparatusfor offering credit cards to this segment without undue high risks tothe institution offering such credit cards.

SUMMARY OF THE INVENTION

Systems, methods, and apparatus consistent with the present inventionprovide instant issuance of credit cards using a remote dispenser.Specifically, in accordance with the principles of the presentinvention, a system is provided for instantly issuing a credit card,which includes means for receiving a credit card application from anapplicant, means for instantly decisioning the credit card application,and if declined, means for instantly notifying the applicant of thatdecision, and if approved, means for instantly issuing the credit card.The instant issuance credit card system can also receive a securitydeposit from the applicant where a determination is made that theapplicant may need to remit a security deposit in order to secure thecredit card. A decision to require security deposit may be based on thecredit history of the applicant.

Additionally, an apparatus for remotely dispensing a credit card isprovided. The remote dispensing apparatus includes: an input device; asecurity deposit acceptor; a remote dispensing module, wherein theremote dispensing module communicates with a central real-timedecisioning platform; a credit card dispenser; and a display.

Also, in accordance with the present invention, a method for instantlyissuing a credit card is provided. The method is implemented in a systemhaving a decisioning system, which may be centrally located, and aremote dispensing apparatus. The method includes the step of receiving acredit card application from an applicant. Next, the credit cardapplication is instantly decisioned, i.e., a decision is made based onfactors, such as the credit history of the applicant, to either declinethe credit card application or approve the credit card application. Ifthe credit card application is declined then the applicant isaccordingly notified. If, however, the credit card application isapproved then the credit card is dispensed using the remote dispensingapparatus.

BRIEF DESCRIPTION OF THE DRAWINGS

The accompanying drawings, which are incorporated in and constitute apart of this specification, illustrate the various features and aspectsof the invention and, together with the description, serve to explainthe advantages and principles of the invention. In the drawings,

FIG. 1 illustrates an exemplary system environment in which the featuresof the present invention may be implemented;

FIG. 2 depicts an exemplary decisioning system, consistent with thepresent invention;

FIG. 3 depicts an instant issuance server consistent with the presentinvention;

FIG. 4 depicts a communications server consistent with the presentinvention;

FIG. 5 depicts an online processing server consistent with the presentinvention;

FIG. 6 depicts an automated credit application processing systemconsistent with the present invention;

FIG. 7 depicts a secured card tracking system consistent with thepresent invention;

FIG. 8 depicts an implementation of a remote dispenser consistent withthe present invention;

FIG. 9 depicts a user interface for the remote dispenser consistent withthe present invention; and

FIG. 10 depicts an exemplary flow chart of a process for instantlyissuing a credit card, consistent with the present invention.

DETAILED DESCRIPTION

The following detailed description of the invention refers to theaccompanying drawings. Although the description includes exemplaryimplementations, other implementations are possible, and changes may bemade to the implementations described herein without departing from thespirit and scope of the invention. The following detailed descriptiondoes not limit the invention. Instead, the scope of the invention isdefined by the appended claims. Wherever possible, the same referencenumbers will be used throughout the drawings and the followingdescription to refer to the same or like parts.

According to the invention, systems, methods, and apparatus are providedfor instantly issuing credit cards using a remote dispenser. The presentinvention is advantageous over past approaches in that it permitsinstant decisioning and remote dispensing of credit cards. One skilledin the art will appreciate that instant decisioning may be referred toas real-time decisioning. Such real time decisioning coupled with remotedispensing of credit cards permits the present invention to deliver acredit card to a customer instantly, after a customer applies for thecredit card and is approved. One skilled in the art will appreciate thatthe term instant decisioning means that a credit card is dispensed assoon as the credit card application is processed and the credit card isembossed. Thus, based on the state of the art in communication,processing, and embossing technologies instant decisioning and deliveryof a credit card may take anywhere from a few seconds to a few minutes.

The customer may apply for the credit card using a remote dispenser,which may have a user interface permitting the customer to apply for thecredit card and receive a credit card upon instant decisioning. Thecustomer may also apply for a credit card with the help of a telesalesagent, who may assist the customer in inputting the relevant informationto the decisioning system associated with the present invention.

By way of a non-limiting example, FIG. 1 illustrates a systemenvironment 100 in which the features and principles of the presentinvention may be implemented. As illustrated in the block diagram ofFIG. 1, system environment 100 includes a decisioning system 102, aplain old telephone system (POTS) network 104, a firewall 106, acommunication network 108, one or more remote dispensers 110, 112 . . .120, which are connected to POTS 104, and one or more remote dispensers122, 124 . . . 130, which are connected to communications network 108.Remote dispensers 110, 112 . . . 120 and 122, 124 . . . 130 providesimilar functionality, except that they have different communicationinterface. Thus, for example, remote dispenser 110 is connected to POTS104 via a modem, whereas remote dispenser 122 may be connected tocommunication network 108 via a network interface adapter, such as anEthernet adapter. Firewall 106 protects the resources and informationstored in decisioning system 102. In addition encryption techniques mayalso be used to ensure secure communication of data and comply with theindustry requirements for security of credit card data.

In addition, in an alternative embodiment of the present invention, acredit card applicant may apply for a credit card with the help of atelesales agent. The telesales agent may use TOPS modules 121 and 131,as depicted in FIG. 1. TOPS modules 121 and 131 are used for data entryrelated to a credit card application. In this alternative embodiment,instead of entering credit card application data herself, the applicantprovides the relevant information to the telesales agent, who then usesthe TOPS module to enter the relevant data. Upon instant decisioning, ifa credit card is approved, the credit card is printed using a remotedispenser, including an embossing machine. The TOPS modules are softwarecomponents installed on a computing platform, for example, aconventional personal computer. The TOPS modules are connected to therest of the system in a similar manner as the remote dispensers. Thus,for example, TOPS module 121 may be connected to decisioning system 102via POTS 104. In this instance, the computing platform having the TOPSmodule has, for example, a modem permitting the TOPS module tocommunicate with the decisioning system. The TOPS modules are alsoconnected with the remote dispensers such that a credit card may beembossed at the remote site. One skilled in the art will appreciate thatthe TOPS modules 121 and 131 are merely exemplary and one may havethousands of such modules installed on conventional personal computersor on network terminals. In addition, such terminals may accept smartcards and access computing abilities over the communication network.

In the embodiment of FIG. 1, communications network 108 may comprise,alone or in any suitable combination, a local area network (LAN), a widearea network (WAN), a dedicated Intranet, and/or the Internet.Furthermore, any suitable combination of wired and/or wirelesscomponents and systems may be incorporated into communications network108. In addition, POTS network 104 may include PBXes or other telephonydevices.

FIG. 2 depicts an exemplary implementation of a decisioning system 200,consistent with the present invention. As shown in FIG. 2, decisioningsystem 200 may include an instant issuance server 201, a communicationsserver 202, an online processing server 204, an automated creditapplication processing system 206, and a secured card tracking system208. Instant issuance server 201 interacts with the other components ofthe decisioning system to instantly issue a credit card. Communicationsserver 202 handles communication with the instant issuance server andother components of the present invention. Online processing server 204implements real time online decisioning ability in conjunction withautomated credit application processing (“ACAP”) system 206. Securedcard tracking (“SCT”) system 208 maintains security deposit informationand thus helps implement secured credit card issuance. Each of thesesystems/servers may have programs that when executed by a processoroperatively connected to a memory, provide the functionality associatedwith these servers or systems.

One skilled in the art will appreciate that although FIG. 2 depictsseparate systems and servers, the functionality associated with each ofthese servers or systems may be combined into one server or system.Conversely, the functionality associated with these servers/systems maybe further sub-divided into other components according to the needs ofthe system, for example, communications server 202 may comprise of twoservers: (1) an HTTP server for interface with browsers, such asNetscape, and (2) a conventional mainframe server for interface withterminals running communication protocols, such as TN3270 from IBM.Further, although these components are depicted as being located at thesame place, the components of FIG. 2 may be distributed on networkedcomputers, which are connected via a communication network.

Additionally, although aspects of the present invention are generallydescribed as being stored in memory, one skilled in the art willappreciate that these aspects may be stored on or read from variouscomputer-readable media, such as secondary storage devices, like harddisks, floppy disks, and CD-ROM; a carrier wave received from a networklike the Internet; or other forms of ROM or RAM. Additionally, althoughspecific components and programs of the systems are depicted in FIG. 2,one skilled in the art will appreciate that these may contain additionalor different components or programs.

FIG. 3 depicts an implementation of an instant issuance server 201.Instant issuance server 201 includes a memory 209, a secondary storagedevice 213, a CPU 217, an input device 219, a communication interface221, and a video display 223. Memory 209 includes an instant issuancemodule 211, which works in conjunction with other components of theserver to handle instant issuance of credit cards via the remotedispensers. Thus, for example, the instant issuance module includesfunctionality to interact with other servers and sub-systems, forexample, the ACAP system via the communications server. In oneimplementation, the instant issuance server creates an embossing recordrelated to the customer for whom a credit card has been approved. Theinstant issuance server then sends the embossing record to the remotedispenser used by the customer to request a credit card. As part of thisprocess, the instant issuance server can also suppress the printing of acredit card at the central location, such that duplicate credit cardsare not created.

In one implementation, the instant issuance module may be implementedusing the server component of the Enterprise Card Wizard, which isavailable from Dynamic Solutions Intl. of Colorado. Secondary storagedevice 213 includes an OS module 215. OS module 215 may be a Unixoperating system module, or a Windows NT module or any other comparablesoftware module. In addition, the functionality associated with the OSmodule and the communication module may implemented using a distributedobject oriented computing environment, for example, Java® or Jini®.

Instant issuance server 201 may also include functionality associatedwith fault detection and management. Specifically, for example, theinstant issuance server may track the status of other components of thedecisioning system and the remote dispensers. Thus, for example, in asituation where the remote dispenser has a defective embosser, theinstant issuance server may emboss a credit card via conventionalembossing process, i.e., centrally and then the credit card may bemailed to the customer at a later time. In addition, it may generateerrors and alarms related to failures in the system. One skilled in theart will appreciate that the instant issuance server may also re-routetraffic in an implementation of the system where, for example, severalACAP systems are being used to serve a multitude of remote dispensers110, 112 . . . 120 and 122, 124 . . . 130. In addition, multiple instantissuance servers may collaborate among each other to provide the instantissuance functionality.

FIG. 4 depicts an implementation of a communications server 202.Communications server 202 includes a memory 210, a secondary storagedevice 214, a CPU 218, an input device 220, a communication interface222, and a video display 224. Memory 210 includes a communication module212, which works in conjunction with other components of the server tohandle communications with the instant issuance server and other serversand systems. Communication module 212 may include, for example, theremote procedure call library and programs from Sun Microsystems®, Inc.Communication module 212 also includes functionality to interact withother servers and sub-systems, for example, the ACAP system. Thisfunctionality may permit the communication server, for example, toprovide both asynchronous and synchronous communication among variousfront-end and back-end systems and applications. Thus, for example,communication module 212 permits synchronous messaging between thefront-end agent application and the multiple back-end systems, using theremote procedure call library and programs from Sun Microsystems®, Inc.Communication module 212 also permits synchronous messaging, forexample, transmitting queries from the online server to the appropriateback-end system, such as the ACAP system. In one implementation, thisfunctionality may be realized by using a MQseries client/server solutionfrom IBM Corporation of Armonk, N.Y. Secondary storage device 214includes an OS module 216. OS module 216 may be a Unix operating systemmodule, or a Windows NT module or any other equivalent software module.In addition, the functionality associated with the OS module and thecommunication module may implemented using a distributed object orientedplatform, for example, Java® or Jini®.

FIG. 5 depicts an implementation of an online processing server 204.Online processing server 202 includes a memory 230, a secondary storagedevice 234, a CPU 238, an input device 240, a communication interface242, and a video display 244. Memory 230 includes an online processingmodule 232, which works in conjunction with other components of theserver to handle online processing.

FIG. 6 depicts an implementation of an automated credit applicationprocessing (“ACAP”) system 206. ACAP system 206 includes a memory 250, asecondary storage device 256, a CPU 260, an input device 262, acommunication interface 264, and a video display 266. Memory 250includes a credit card processing module 252, which works in conjunctionwith credit models 254 to process credit card applications. The ACAPsystem takes application and credit bureau information and processes itthrough credit models to determine eligibility for the credit cardproduct provided. One skilled in the art will appreciate that the ACAPsystem may store the credit bureau information locally, or it may obtainthis information from the credit bureaus' using, for example, acommunication link with the bureaus.

Secondary storage device 256 includes an OS module 258 and credit cardinformation 259. OS module 258 may be a Unix operating system module, ora Windows NT module or any other equivalent software module, forexample, a Java® module. Credit card information 259 includes datarelated to individual credit card holders and other credit relatedinformation, for example, credit reports related to existing credit cardcustomers. One skilled in the art will appreciate that credit cardinformation 259 may include other relevant information as well. Creditcard processing module 252 may access the credit card information asneeded during processing a credit card application. It may also storecredit card information in the secondary storage for future access andmanipulation. In one implementation, the functionality associated withthe credit card processing module may be implemented using the ACAPSenterprise wide solution available from American Management Systems,Inc. of Fairfax, Va.

FIG. 7 depicts an implementation of a secured card tracking (“SCT”)system 208. SCT system 208 includes a memory 270, a secondary storagedevice 274, a CPU 280, an input device 282, a communication interface284, and a video display 286. Memory 270 includes a secured cardtracking module 272. The secured card tracking module updates and keepstrack of security deposit information 278, which is stored in secondarystorage device 274. Secondary storage device 274 also includes an OSmodule 276. OS module 258 may be a Unix operating system module, or aWindows NT module or any other equivalent software module, for example,a Java® module.

FIG. 8 depicts an implementation of a remote dispenser, such as remotedispenser 110 shown in FIG. 1, consistent with the present invention.Remote dispenser 110 includes a memory 132, a secondary storage device134, a CPU 136, an embossing machine 138, a communication interface 140,a video display 142, and an input device 144. Memory 132 includes aremote dispensing module 133. The remote dispensing module 133 interactswith both the instant issuance module located on instant issuance server201 and embossing machine 138. Thus, for example, the remote dispensingmodule 133 receives an embossing record corresponding to a credit cardfrom the instant issuance server and sends the record to embossingmachine 138. The embossing machine 138 then embosses the relevant creditcard information onto a card, for example, a plastic card in accordancewith Visa®, MasterCard® and/or the system operator's embossingstandards. One skilled in the art will appreciate that the embossedinformation includes the name of the credit card holder, the credit cardnumber, and the date of expiration of the credit card. The embossingmachine 138 also writes encoded customer information on the magneticstripe on the back of the card.

The remote dispensing module may also communicate error messages to theinstant issuance server, for example, where the embossing machinereports a malfunction to the remote dispensing module. Thisfunctionality is also important to reconcile the number of credit cardsdispensed with the number of embossing records created. Thus, forexample, where the embossing machine situated at the remote locationfails to generate a credit card, the central location needs thatinformation in order to produce a credit card centrally.

The functionality encapsulated in the remote dispensing module may beimplemented using the client component of the Enterprise Card Wizard,which is available from Dynamic Solutions Intl., of Colorado. Anembossing machine 138 consistent with the present invention may beimplemented using an embosser, for example, the Datacard 150i availablefrom the Datacard Group of Minnetonka, Minn. Communication interface 140may be an Ethernet adapter, an RF adapter, a modem, or any othercommunication interface permitting the remote dispenser to communicatewith the decisioning system and other components of the presentinvention. Input device 144 may be a keyboard, a mouse, or any otherdevice permitting input of commands or information from a customer oruser into the remote dispenser. The card may be activated via a VRU(voice Response Unit) through a telephone by the customer at a latertime.

FIG. 9 depicts a user interface for one implementation of a remotedispenser 110 consistent with the present invention. The user interfacefor the remote dispenser 110 includes a display 150, a keypad 152, abill acceptor 154, a card acceptor 156, a credit card informationdispenser 160, and a credit card dispenser 162. The user interface forthe remote dispenser 110 permits a customer to apply for a credit cardand receive a credit card if a credit card is approved. Thus, forexample, the customer may, by using keypad 152, request a credit cardand follow the information displayed on display 150 to complete therequest for the credit card. During the credit card application process,the customer may be required to provide a security deposit in order toissue a secured credit card. The customer may remit the required amountby inserting currency bills through bill acceptor 154. Alternatively,the customer may use an ATM card to transfer the required amount fromher bank account to the credit card decisioning system. One skilled inthe art will appreciate that the customer may also use any other card,for example, a smart card or a memory stick or any other device fortransferring money from his account to the operator/owner of the instantcredit card decisioning system. The customer may also write a check,which may then be read by a check reader 158.

After the customer has completed the credit card application process,including remitting the required security deposit, the system thendelivers a credit card to the customer through the credit card dispenser162, which is embossed using the embossing machine contained in theremote dispenser. The system may also deliver relevant credit carddisclosures to the customer via credit card information dispenser 160.Such credit card information may be printed or may be dispensed throughother means.

In another implementation of the remote dispenser consistent with thepresent invention, a customer applies for a credit card using atelesales agent. In this implementation, the remote dispenser userinterface need not support security deposit acceptance features. Thus,for example, in this implementation the remote dispenser may only have adisplay and a credit card dispenser.

One skilled in the art will appreciate that the components and the userinterface elements associated with the remote dispenser may bedistributed. Thus, for example, the embossing machine may not be locatedin the same kiosk or housing as the rest of the components. Indeed, theembossing machine may be located in a secure place, for example, a partof the remote location, such as a check cashing outlet that has limitedaccess.

In accordance with the principles of the present invention, an exemplaryprocess for instantly issuing a credit card will now be described withreference to FIG. 10.

As shown in FIG. 10, the first step is performed when an applicant filesa credit card application (step S.100). The applicant may file thisapplication using the remote dispenser's user interface and associatedkeypad as shown in FIG. 8, or the applicant may file this application byusing a telephone with the help of a telesales agent. The system thenprovides initial disclosure to the applicant (step S.200). Thisdisclosure may be provided by displaying the relevant disclosure on thedisplay associated with the remote dispenser or may be provided over thetelephone by the telesales agent.

Upon receiving the initial disclosure, the system or the telesales agentprompts the applicant to determine whether the applicant wants to submitthe application (step S.300). If the applicant decides not to submit theapplication, then the processing ends. If, however, the applicantdecides to submit the credit card application, then the processingcontinues to the next step.

The submitted application is then processed and is approved ordisapproved (step S.400). In this step, the online processing system andthe ACAP system (FIGS. 2, 5, and 6) may interact to arrive at adecision. Specifically, for example, during this step credit cardprocessing module 252 may analyze the information contained in thesubmitted credit card application in view of credit models 254. Oneskilled in the art will appreciate that this step also involvesaccessing credit reports associated with the applicant from the creditbureaus (not shown) and analyzing them to determine the type of offerand the credit limit associated with the offer. For example, the ACAPsystem may decide to offer a secured credit card with a low credit limitfor an applicant, who has a bad credit history.

If the application is not approved then the applicant is notified eitherby displaying a message on the remote dispenser's screen or byindicating to the applicant over the telephone (step S.500), and theprocessing ends. If, however, the application is approved then theapplicant is notified of the approval (step S.600) and the processingcontinues to the next step.

Next, the applicant is asked whether the applicant wants to continue(step S.700). This step permits the applicant to decide whether he orshe wants to take the offered credit card deal or decline it. If theapplicant decides to discontinue the process, then the processing ends.Otherwise the processing continues and the applicant completes theregistration process (S.800). This process may involve verification ofapplicant's identification. This verification may be done by a humanagent or via other means, for example, including biometric means. Also,this step may require the applicant to remit a certain deposit amount,where the applicant was offered a secured credit card. One skilled inthe art will appreciate that the credit limit on the secured card neednot be the same as the remitted deposit amount. The credit limit,however, could be related to the deposit amount.

Upon the completion of the registration the system dispenses the creditcard to the applicant (step S.900). This step involves receiving anembossing record from the decisioning system and then embossing therelevant information on the credit card. This step may also involveinitializing the magnetic strip on the back of the credit card. Oneskilled in the art will appreciate that this step may also involvecustomizing the credit card, for example, printing a photograph of theapplicant on the face of the card, if the applicant so desires. Such aphotograph may be obtained by the remote dispenser using a digitalcamera, for example.

One skilled in the art will appreciate that the steps depicted in FIG.10 may be performed in a different order. In addition, each of thesesteps may involve additional housekeeping steps not shown.

The foregoing description of an implementation of the invention has beenpresented for purposes of illustration and description. It is notexhaustive and does not limit the invention to the precise formdisclosed. Modifications and variations are possible in light of theabove teachings or may be acquired from practicing of the invention. Forexample, the described implementation includes software, but the presentinvention may be implemented as a combination of hardware and softwareor in hardware alone.

1. A method for dispensing a transaction card to an applicant at aremote location, the method comprising: providing an automatedtransaction card dispenser at the remote location; receiving informationrelevant to the applicant's credit-worthiness; determining, based on thereceived information, whether the applicant will be allowed to receivethe transaction card from the automated transaction card dispenser; andand if it is determined that the applicant is allowed to receive thetransaction card, customizing, by the automated transaction carddispenser, a surface of the transaction card according to the receivedinformation, and dispensing the customized transaction card, at theremote location, using the automated transaction card dispenser, whereinthe customized transaction card is used for financial transactions. 2.The method of claim 1, wherein providing the automated transaction carddispenser at the remote location comprises: providing a remote dispenserat the remote location, the remote dispenser including the automatedtransaction card dispenser.
 3. The method of claim 1, whereincustomizing the transaction card further comprises: receiving, by theautomated transaction card dispenser, a record from the centraldecisioning platform; and placing, by the automated transaction carddispenser, information contained in the record on the transaction card.4. The method of claim 3, wherein placing information contained in therecord on the transaction card comprises the transaction card dispenserembossing the transaction card in accordance with the record.
 5. Themethod of claim 3, wherein placing information contained in the recordon the transaction card comprises: initializing a magnetic strip on thetransaction card in accordance with the record.
 6. The method of claim3, wherein placing information contained in the record on thetransaction card comprises: placing a photograph on the transactioncard.
 7. The method of claim 1, wherein dispensing the transaction cardcomprises at least one of: (a) the automated transaction card dispenserembossing the transaction card, or (b) the automated transaction carddispenser initializing a magnetic strip on the transaction card.
 8. Themethod of claim 1, wherein the customized transaction card is used as acredit card.
 9. The method of claim 1, wherein the customizedtransaction card is an unsecured credit card.
 10. The method of claim 1,wherein the customized transaction card includes a credit card logo. 11.A system for dispensing a transaction card to an applicant at a remotelocation, the system comprising: a decisioning platform for receivinginformation relevant to the applicant's credit-worthiness and fordetermining, based on the received information, whether the applicantwill be allowed to receive the transaction card at the remote location;and an automated transaction card dispenser for customizing a surface ofthe transaction card according to the received information anddispensing the customized transaction card, at the remote location, whenit is determined that the applicant will be allowed to receive thecustomized transaction card at the remote location, wherein thecustomized transaction card is used for financial transactions.
 12. Thesystem of claim 11, wherein the decisioning platform includes acommunication interface for communicating with the automated transactioncard dispenser.
 13. The system of claim 12, wherein the automatedtransaction card dispenser comprises: a receiver for receiving a recordfrom the decisioning platform; and a mechanism for placing informationcontained in the record on the transaction card.
 14. The system of claim13, wherein the mechanism comprises: an embosser for embossing thetransaction card in accordance with the record.
 15. The system of claim13, wherein the mechanism comprises: a device for initializing amagnetic strip on the transaction card in accordance with the record.16. The system of claim 13, wherein the mechanism comprises: a devicefor placing a photograph on the transaction card.
 17. The system ofclaim 11, wherein the automated transaction card dispenser comprises atleast one of: (a) an embosser for embossing the transaction card, or (b)a device for initializing a magnetic strip on the transaction card. 18.The system of claim 11, wherein the customized transaction card is usedas a credit card.
 19. The system of claim 11, wherein the customizedtransaction card is an unsecured credit card.
 20. The system of claim11, wherein the customized transaction card includes a credit card logo.21. A system for dispensing a transaction card to an applicant at aremote location, the system comprising: automated decisioning means forreceiving information relevant to the applicant's credit-worthiness andfor determining, based on the received information, whether theapplicant is allowed to receive the transaction card at the remotelocation; and automated dispensing means for customizing a surface ofthe transaction card according to the received information anddispensing the customized transaction card, at the remote location, whenit is determined that the applicant is allowed to receive the customizedtransaction card at the remote location, wherein the customizedtransaction card is used for financial transactions.
 22. The system ofclaim 21, wherein the automated decisioning means includes means forcommunicating with the automated dispensing means.
 23. The system ofclaim 22, wherein the automated dispensing means comprises: means forreceiving a record from the automated decisioning means; and means forplacing information contained in the record on the transaction card. 24.The system of claim 23, wherein the means for placing informationcomprises: means for embossing the transaction card in accordance withthe record.
 25. The system of claim 23, wherein the means for placinginformation comprises: means for initializing a magnetic strip on thetransaction card in accordance with the record.
 26. The system of claim23, wherein the means for placing information comprises: means forplacing a photograph on the transaction card.
 27. The system of claim21, wherein the automated dispensing means comprises at least one of:(a) means for embossing the transaction card, or (b) means forinitializing a magnetic strip on the transaction card.
 28. The system ofclaim 21, wherein the customized transaction card is used as a creditcard.
 29. The system of claim 21, wherein the customized transactioncard is an unsecured credit card.
 30. The system of claim 21, whereinthe customized transaction card includes a credit card logo.